The simple answer is that there is a digital marketing strategy for every budget. The flexibility of digital marketing strategies yields benefits for just about every size of business, from small to large. With such a wide range of methods and strategies, it is not possible to provide a one-size-fits-all price tag for digital marketing.
Instead, it is helpful to examine the digital marketing spend for different levels of business, as small companies will spend less than larger ones. For example:
Basic Digital Marketing — Startups and small businesses do not generally have a large budget available for digital marketing. So, these businesses focus on low-cost methods, typically leveraging websites, blogs and social media to drive revenue at a low price point. The cost for basic digital marketing can be several hundred dollars per month.
Intermediate Digital Marketing — Medium-sized businesses tend to have established revenue streams and the capability to spend more on digital marketing. This is where SEO, SEM, PPC and email marketing start to become prevalent. The cost for intermediate digital marketing can be several thousand dollars per month.
Advanced Digital Marketing — Large or enterprise businesses will use digital marketing in a comprehensive and often global manner. These businesses tend to have developed strategies across most digital marketing channels. These businesses often spend substantial resources developing a digital marketing strategy across many available channels. The cost for advanced digital marketing can be tens of thousands of dollars per month.
As demonstrated above, the cost of digital marketing varies greatly based on business size, revenue and goals. Smaller companies will often start with a basic strategy and develop intermediate or advanced methods down the road. Ultimately, it is possible for just about every business to create and implement a digital marketing strategy that meets their needs and budget.